HSBC Bank (NYSE:HSBC), which is headquartered in New York, NY, updated its home purchase loan information for May 27, 2015, which is discussed below. This lender provides excellent interest rates under its mortgage loan program, so those who are looking to invest either in a new / used home or to refinance an existing mortgage, may find some suitable mortgages at this bank.
HSBC Bank Home Purchase Rates
30-Year Fixed-Rate Mortgage: 4.050%, 4.132% APR
15-Year Fixed-Rate Mortgage: 3.250%, 3.389% APR
30-Year Fixed FHA Mortgage: 3.875%, 4.039% APR
30-Year Fixed VA Mortgage: 3.750%, 3.929% APR
5/1 Adjustable Rate Mortgage (ARM): 3.125%, 3.119% APR
7/1 Adjustable Rate Mortgage (ARM): 3.330%, 3.229% APR
Please, bear in mind, that the present mortgage interest rates may vary without prior notice from the lender and are subject to change based on location, geography and other terms and conditions. The annual percentage rates (APR) were made based on discount points, origination fees, average loan fees and closing costs.
Freddie Mac, which is based in McLean, VA, announced last week, that the interest rate on the 30-year fixed loan ticked down to 3.84% from the previous 3.85%. Meanwhile, the average rate on the shorter-term 15-year fixed loan declined to 3.05% during the past week. A week earlier this type of mortgage loan averaged a rate of 3.07%, according to Freddie Mac.
Consumer financial services company, Bankrate also published its weekly mortgage survey, which revealed that the interest rate on the 30-year mortgage increased to 4.03% during the past week. The interest rate on the shorter-term, 15-year mortgage surged at 3.23%, according to the survey. The current rate on the 5/1 adjustable rate mortgage shot up in the company’s latest survey, this type of mortgage is now standing at 3.19%.
For further details on the latest home purchase and refinance mortgage interest rates at HSBC Bank, as well as information on borrowing terms and conditions and loan assumptions, please take a visit to the bank’s website.